The fund aims to back startups poised to become unicorns across areas such as AI, fintech, digital content, and logistics.
Mirae's Neelesh Surana sees ample opportunities in sectors with fair valuations, with most ideas likely to see earnings growth. "A modest valuation premium is still justified, given structurally lower cost of capital," he added.
Varun Goel of Mirae Asset Investment Managers believes that over a 10-15 year period, the compounding effect in small caps can be substantial. While Nifty's 30-year return is around 11-12%, the small cap index has delivered 17% over 20 years, he added.
The Group, through its investment vehicles SmallCap World Fund Inc and New World Fund Inc, carried out the transaction in small tranches over the last three months
Sharekhan Ltd is engaged in the business of stock broking, commodities/currency derivatives broking.
On private sector capex, Mirae Asset's view is that it has been growing, but not in sectors like power, metal and mining.
He suggests that medium-risk investors allocate 40 percent each to large cap funds and mid cap or multi cap funds (core portfolio), and the remaining 20 percent to good stories (investment themes).
On December 12, Mirae Asset acquired retail broking firm Sharekhan from BNP Paribas for Rs 3,000 crore, marking a shakeup in the industry. As of November end, Mirae Asset had 2.42 lakh NSE active clients while Sharekhan had 6.24 lakh active clients
The broking industry has got one more serious player with strong backing. Competition in the field will intensify as Mirae Asset aggressively pushes Sharekhan to justify its acquisition and improve its market share
Rahul Chadha, Chief Investment Officer at Mirae Asset Global Investments, provides insights into his near-term market outlook and explains his decision to take profits off the table as the bulls dominate Dalal Street.